138 per cent multibagger returns from its 52-week low; Board announces stock split!

The stock gave multibagger returns of 137.92 per cent from its 52-week low of Rs 669.75 per share.

Indian Link Chain Manufacturers Ltd informed that a meeting of the Board of Directors of the company has approved a stock split in the ratio 1:10 i.e., existing one (1) equity share of the company having a face value of Rs 100 each fully paid-up will be sub-divided/split into Ten (10) equity shares having face value of Rs 10 (Rupees Ten Only) each fully paid-up. The company did not fix the record date for stock split but an estimated time of completion is approximately 3 months from the date of receipt of approval of the shareholders of the company.

The Indian Link Chain Manufacturers Ltd is a diversified manufacturing company, which produces steel link chains and sulphuric acid. The company has a market cap of Rs 7.66 crore. According to the shareholding pattern, promoters hold a majority stake of 55.40 per cent, followed by DIIs with 0.08 per cent. The remaining 44.52 per cent is held by the general public.

On August 04, 2023, one of the Top Gainers on BSE, shares of Indian Link Chain Manufacturers Ltd surged 5 per cent upper circuit to Rs 1,593.45 per share from its previous closing of Rs 1,517.16. In the recent trading sessions, the stock is hitting back-to-back upper circuits. The stock also made a new 52-week high of Rs 1,593.45 per share.

The stock gave multibagger returns of 137.92 per cent from its 52-week low of Rs 669.75 per share. Investors should keep an eye on this micro-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.